Beacon Hall members to vote on $250-million sale of course to developers in February
The rolling hills and woodlands at one of Canada’s top courses, Beacon Hall Golf Club in Aurora, Ont., may soon be turned into a suburban Toronto housing development, a prospect that divides the club’s members.
Beacon Hall, home to an 18-hole golf course that routinely ranks among the country’s top 10, told members on Monday that an unnamed real estate developer offered to buy the 200-acre property for $250-million.
The private club’s 260 members, most of whom work on Bay Street, are scheduled to vote on the offer in February after an often acrimonious three-year debate that pitted those who wanted to keep playing golf against members who wanted to cash in and share the proceeds – a $960,000 windfall per member – or at least gauge what the property is worth. Selling the club requires approval from two-thirds of members.
Andrew Willis has more HERE for the Globe & Mail.